Most people don’t know this, but the trick to creating wealth is to start investing while you are young. For instance, when you are in high school, you can put aside a portion of your lunch money and put it into investments! You are probably thinking “but it’s too little to be invested”. Lack of money should not be an issue if you are looking to create wealth while still in high school. We’ve picked ideas in the crypto world that are high risk, but offer the potential of high returns. As long as you spread your risk, you have a decent chance that something will come off. With that in mind, let’s now go through a step-by-step guide on how to start investing in cryptos while in high school.
1. Invest in Low-cap Coins and ICOs
As a high school student, you have a whole lifetime ahead of you. That’s why your focus shouldn’t be on expensive coins that are performing well in the market today. Instead, you should look for coins that are in their infancy. For instance, instead of putting your money in bitcoin and other major cryptos, it would make sense for you to invest in ICOs that have a good upside potential. The reason is simple. By investing in ICOs, you will be getting in while they are at their lowest, with the potential to grow with them once they hit the market. In the long-run, such projects have the potential to compound your money by a significant margin, as compared to the gains you can make from investing in a big crypto like bitcoin. You need to look at your investments from a long-term perspective; that is 5, 10, or even 15 years from now. To give you context for this, you just need to look at bitcoin when it launched, it was worth only pennies. 10 years later, it is worth over $10,000 a coin. Anyone who put in just $100 in bitcoin back then is now a millionaire! Why not do the same with some high potential upcoming coin, and secure your financial future. While nothing is a sure thing, the potential returns are a lot sexier than a savings account. And if you enjoy a shameless plug, Coinseed is about to launch its own coin, via ICO.
2. Learn Programming
3. Build a Portfolio of Staked Coins
Staking is one of the best ways to earn a passive income. Unfortunately, for you to stake a coin, you need to have a significant holding of it. At your tender age, you can identify one crypto that you would like to stake then start investing in it slowly until you reach the minimum requirement. You will be surprised to find that by the time you are in your 20s, you will be staking several cryptos and earning a good passive income. Isn’t that what wealth building is all about? The ability to earn without working. In fact, most people work all their lifetime chasing this dream. Thanks to cryptocurrencies, you have the chance to achieve this dream while you are still young, and enjoy doing all the things you would have wished to do in life.
4. Start Blogging about Cryptos
As a teenager who has some knowledge about cryptocurrencies, you hold a lot of influence among your peers. You can make money out of this information by blogging about cryptos, then making money off of this influence. You can then channel the money you earn from your blogging activities into buying cryptocurrency. You are still young, which means by the time you reach your thirties, your blog will have become a major brand, and you will be earning a good passive income both from your blog, as well as from the cryptos where you channel your blogging proceeds.
5. Actively Trade Cryptos
Active trading is not easy, but if you can master it, it’s one of the most lucrative ways to make money in the financial markets. It’s especially lucrative in the crypto market where prices can fluctuate by over 20% in a single day. Since you are still young and have the leeway to make mistakes without any impact on your lifestyle, use this time to learn how to actively trade the crypto market. By the time you are 20, you will have mastered this skill, and then you can use this expertise to build a career as a cryptocurrency trader. The Coinseed app offers a simple, accessible path into cryptocurrency for even total beginners. In fact, the whole reason we started our company was to help this demographic get into crypto.
If you can implement any of the above strategies while still in high school, you are guaranteed a comfortable future, one that is free of financial lack. If one of your many investments doesn’t pay off (which is highly unlikely), the skill set you’ve developed alone will make you very attractive on the job market. Remain innovative and open to new ideas. Remember this is still a young market and will keep changing over the years. Be ready to adapt to those changes, and actively seek out new opportunities. If you are open to learning, then you are halfway through your journey to success in the crypto market.